Nuvation Bio Inc. (NYSE:NUVB) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Nuvation Bio Inc. (NYSE:NUVB) have received a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $11.50.

A number of research analysts have commented on NUVB shares. Truist Financial set a $13.00 price objective on Nuvation Bio in a research report on Tuesday, January 27th. UBS Group assumed coverage on Nuvation Bio in a research report on Wednesday, January 7th. They issued a “neutral” rating and a $10.00 price objective for the company. B. Riley Financial began coverage on Nuvation Bio in a report on Wednesday, November 19th. They set a “buy” rating and a $12.00 price objective for the company. JMP Securities set a $10.00 target price on shares of Nuvation Bio in a research note on Thursday, November 20th. Finally, Citizens Jmp boosted their price target on shares of Nuvation Bio from $8.00 to $10.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 20th.

Insider Activity at Nuvation Bio

In other news, insider Dongfang Liu sold 150,000 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $7.82, for a total value of $1,173,000.00. Following the transaction, the insider directly owned 18,000 shares in the company, valued at $140,760. This trade represents a 89.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have sold 190,000 shares of company stock worth $1,406,000. Insiders own 29.93% of the company’s stock.

Hedge Funds Weigh In On Nuvation Bio

Hedge funds have recently added to or reduced their stakes in the stock. Rangeley Capital LLC acquired a new position in shares of Nuvation Bio during the 2nd quarter worth about $25,000. Parallel Advisors LLC boosted its stake in Nuvation Bio by 51.9% during the 3rd quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock worth $28,000 after acquiring an additional 2,597 shares during the last quarter. Cetera Investment Advisers acquired a new position in Nuvation Bio during the second quarter valued at approximately $29,000. Captrust Financial Advisors bought a new stake in Nuvation Bio in the second quarter valued at approximately $32,000. Finally, Swiss Life Asset Management Ltd acquired a new stake in Nuvation Bio in the third quarter worth $39,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

Nuvation Bio Price Performance

NUVB opened at $5.77 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.48 and a quick ratio of 8.39. The stock has a market capitalization of $1.98 billion, a P/E ratio of -9.01 and a beta of 1.52. The company’s 50 day simple moving average is $7.24 and its 200-day simple moving average is $5.29. Nuvation Bio has a one year low of $1.54 and a one year high of $9.75.

About Nuvation Bio

Nuvation Bio is a clinical-stage biotechnology company dedicated to discovering and developing small-molecule therapies for patients with cancer. The company employs an integrated research and development platform that spans target identification, preclinical evaluation, process chemistry, and early-stage clinical trials. By centralizing these capabilities, Nuvation Bio aims to accelerate the translation of promising drug candidates from laboratory research to first-in-human studies.

The company’s pipeline comprises multiple oncology programs, with small-molecule kinase inhibitors and targeted agents in Phase 1 development for both hematologic malignancies and solid tumors.